A listing agent produces a ready, willing, and able buyer who enters into a contract with the seller and offers asking price. The seller backs out of the contract at the last minute because she changed her mind about moving. The listing agent has:
- Not earned his commission
- Earned his commission
- Earned a portion of his commission
- Earned his commission subject to seller approval
The answer is B – because the agent has produced a ready, willing, and able buyer, the agent has earned his commission per the terms of the listing agreement. The agent has a right to ask the seller for his commission.